Monday, September 26, 2011
During spring and summer 2011, the Congress and the President were embroiled in an intense debate over raising the federal debt ceiling and reducing future budget deficits. Why does the Congress require separate votes on spending, taxation, and on the debt ceiling? How have these issues been viewed historically? What does the American public think of the debt ceiling debate, and to what extent do the policy decisions reflect the views of citizens? What are the causes of the rising debt and large budget deficits? In particular, how do tax policy, the economic recession, demographic changes, and health care costs factor into the deficit problem? Will the agreement to raise the debt ceiling and reduce future deficits solve the problem?
These and other questions were addressed by a panel of faculty members of Bucknell University.